Volkswagen Group presents record results for 2011

The Volkswagen Group again reported record vehicle sales, sales revenue and earnings in 2011 and is confident about its prospects for 2012.

Sales revenue increased by 25.6% in the past fiscal year to €159.3 billion (previous year: €126.9 billion). Consolidated operating profit rose to a record €11.3 billion, an improvement of €4.1 billion compared with 2010.

Volume, mix and price effects were the strongest drivers (€5.9 billion). In addition, product cost savings of €1.1 billion had a positive effect.

The negative effect of €2.6 billion arising from fixed costs and depreciation and amortization expense was primarily attributable to the Group's growth and to development costs related to the expansion of the Volkswagen Group's product portfolio.

The operating margin improved from 5.6% to 7.1%.

The consolidated operating profit does not include the Group's €2.6 billion (€1.9 billion) proportional share of the operating profit of the Chinese joint ventures. These companies are included using the equity method and are therefore reflected in the financial result, which rose by €5.8 billion to €7.7 billion last year.

All in all, the Volkswagen Group's profit before tax last year rose by around €10 billion to €18.9 billion. At €15.8 billion (€7.2 billion), the after-tax profit is also a record.

"The Volkswagen Group has extended its string of unbroken successes in 2011. We are making steady progress on our way to pole position in the automotive industry," said Professor Dr Martin Winterkorn, chairman of the board of management at Volkswagen Aktiengesellschaft, on Monday during the presentation of the company's 2011 financial results.

The Volkswagen Group set new records for vehicle sales, sales revenue and earnings, with more than eight million vehicles sold for the first time.

As a result, the board of management and the supervisory board will propose to the annual general meeting on April 19, 2012, to increase the dividend per ordinary share to €3.00 (€2.20) and the dividend per preferred share to €3.06 (€2.26).